Eumedion updates position statement on corporate tax policy and transparency
Eumedion has published an updated position statement on corporate tax policy and tax transparency. The position statement asks listed companies to have a clear and responsible tax policy as part of their strategy for good corporate citizenship.
In addition, Eumedion sees it as a responsibility of the Board to find an appropriate balance between the benefits of reducing tax expenses and the possible related risks, including the 'social license to operate’. It is the role of the supervisory board to monitor compliance with the company’s tax policy and approach. Eumedion also requests companies to report publicly on the taxes paid in each country, the so-called 'country-by-country reporting’. This allows for a more detailed analysis of tax related issues by institutional investors and better informed engagement with companies. In the revised position statement, three new recent good practices are identified.